Over the past few months, there had been talks of streamlining the SR&ED tax credit program to support a more direct funding model from the savings created. While the changes to the SR&ED program were minor, the Federal Government did announce an additional $1.1 billion in funding over the next five years in the form of grants.
"SR&ED is an outstanding government program which supports much-needed R&D in Canada. As is the case with any government program, applicants would be best served by engaging experts to assist in the process – at least until they learn the ropes themselves; BoastCapital is an excellent resource," said Paul Cataford, Associate Partner, Espresso Capital. "While Espresso Capital has capital to bridge a company's funding gap for the period three months before the actual filing up until the SR&ED claim is paid by the government (provincial and federal)."
Canada is one of the most generous countries in funding research, innovation, and experimentation, providing approximately $7 billion annually to over 30,000 companies. Over $4.5 billion of this funding pool is provided under the SR&ED program.
“Given the amount of Government funding available, now is the best time to innovate so you can get competitive, both nationally and globally,” said Alex Popa, Partner, Boast Capital.
About Boast Capital
Boast Capital is a Calgary-based Scientific Research and Experimental Development (SR&ED) Tax Credits that helps companies secure and maximize government funding to advance innovation. Last year alone, our partners secured over $10 million in SR&ED tax credits for over 100 tech companies in Calgary, Edmonton, Vancouver and Toronto. For more information visit http://BoastCapital.com, or send us a tweet @BoastCapital
About Espresso Capital
Espresso Capital provides financing to bridge SR&ED tax claims. Espresso Capital is partnered with private investors from the high technology community. We have relationships with institutional finance companies, venture capital groups and professional service firms. For more information visit http://www.espressocapital.com.
About Innovate Calgary
Innovate Calgary is a full service organization offering technology transfer and business incubator services to researchers, entrepreneurs and businesses within the advanced technology sector. We have more than 50 years combined experience supporting the technology community, and are dedicated to the growth of southern Alberta’s technology commercialization ecosystem. For more information visit http://innovatecalgary.com
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Click here to read the full story: Boast Capital and Espresso Capital Host SR&ED Seminar to Discuss New Federal Budget